Pantera-Led Funding Round Boosts SuperApp Developer Based

Based, a company that aims to revolutionize on-chain finance, has received a significant boost with a $11.5 million funding round led by Pantera Capital. The startup's SuperApp is designed to provide a seamless experience for users to trade perpetuals, participate in prediction markets, and make real-world purchases using crypto debit cards.

The app's unique approach to finance has already gained traction, with over 30,000 monthly active users and $39 billion in traded volume. The team plans to use the new funding to expand its offerings, including introducing a marketplace initiative called Basedmall, and developing new trading primitives on its infrastructure.

The investment is also expected to help Based push further into enterprise use cases with its 'Based Cloud' offering. This will enable businesses to leverage the company's stack for their own needs. The funding round has been met with optimism from investors, who believe in the potential of Based's integrated vision.